Cougar Energy is a public company listed on the Australian Stock Exchange under the company code CXY. The company was listed previously under the name Pinnacle VRB (Code: PCL), with its primary focus on the development in Australia of applications for the Vanadium Redox Battery (VRB) system for electricity storage.

In September 2006, Pinnacle VRB purchased all of the shares in a private company (Cougar Energy Pty Ltd) which was founded by Dr Len Walker to continue the challenge of commercialisation of UCG technology which he commenced some 25 years earlier. The listed company was renamed Cougar Energy Ltd in November 2006.

Cougar Energy continued investigations into the VRB battery system to ascertain its commercial potential and whether there were any synergies with the UCG technology. However in April 2008, the Company announced that further expenditure in this area could not be justified, and that it would focus exclusively on UCG project development, in particular the development at Kingaroy, Queensland of a 400MW power station using UCG gas as the fuel.

In May 2008, Cougar Energy announced a successful equity raising of $7m by the placement of 50m new shares at 14c each, and in June 2008 announced an MOU with the Direct Invest AG Group based in Dusseldorf Germany for the facilitation of two future capital raisings to support development of the Kingaroy power project.

These two financial transactions have placed the Company in a position where it can proceed rapidly with its future planned operations.